Materion Corporation (NYSE:MTRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Materion Corporation, formerly known as Brush Engineered Materials Inc., through its wholly-owned subsidiaries is engaged in the production and supply of high-performance engineered materials in the United States and internationally. Products offered by the Company comprise precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Materion Corporation is headquartered in Mayfield Heights, Ohio. “

A number of other research analysts also recently commented on MTRN. BidaskClub downgraded shares of Materion Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 price objective on shares of Materion Corporation in a research report on Friday, July 7th.

Shares of Materion Corporation (MTRN) opened at 42.85 on Wednesday. Materion Corporation has a 52-week low of $28.50 and a 52-week high of $44.80. The stock has a 50 day moving average of $40.04 and a 200 day moving average of $37.08. The firm has a market capitalization of $858.63 million, a price-to-earnings ratio of 34.58 and a beta of 1.14.

Materion Corporation (NYSE:MTRN) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Materion Corporation had a net margin of 2.47% and a return on equity of 5.96%. The business had revenue of $295.80 million for the quarter, compared to the consensus estimate of $254.28 million. During the same period last year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, analysts predict that Materion Corporation will post $1.52 EPS for the current fiscal year.

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In other Materion Corporation news, VP Gregory R. Chemnitz sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $38.29, for a total value of $114,870.00. Following the completion of the sale, the vice president now directly owns 18,052 shares of the company’s stock, valued at $691,211.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MTRN. SG Americas Securities LLC bought a new stake in Materion Corporation in the first quarter worth approximately $115,000. Victory Capital Management Inc. grew its position in Materion Corporation by 50.5% in the first quarter. Victory Capital Management Inc. now owns 3,789 shares of the basic materials company’s stock worth $127,000 after acquiring an additional 1,271 shares in the last quarter. State of Alaska Department of Revenue grew its position in Materion Corporation by 79.5% in the second quarter. State of Alaska Department of Revenue now owns 3,949 shares of the basic materials company’s stock worth $147,000 after acquiring an additional 1,749 shares in the last quarter. Mason Street Advisors LLC grew its position in Materion Corporation by 7.1% in the first quarter. Mason Street Advisors LLC now owns 4,665 shares of the basic materials company’s stock worth $157,000 after acquiring an additional 308 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Materion Corporation by 1.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,096 shares of the basic materials company’s stock worth $171,000 after acquiring an additional 96 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Materion Corporation Company Profile

Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.

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